Metaplanet Achieves $1 Billion Market Valuation Amid Bitcoin Strategy Success
Metaplanet Inc. has achieved a market valuation of $1 billion, driven by its strategy focused on Bitcoin. CEO Simon Gerovich noted that growth has accelerated in 2024, coinciding with rising demand for Bitcoin as an inflation hedge.
- Metaplanet currently holds approximately 1,762 BTC, valued at around $179 million.
- The company aims to increase its Bitcoin holdings to 10,000 BTC by the end of 2025.
- Gerovich stated that BTC serves as a critical treasury reserve asset for public companies amid global economic uncertainties.
Stock Performance
- Metaplanet's stock has shown a strong correlation with Bitcoin price movements.
- As Bitcoin surpassed $105k, Metaplanet’s stock rose over 15%, trading at about ¥4,235.
- The stock increased over 2,300% in the past year, outperforming other publicly traded companies in Japan.
The upcoming administration plans to utilize Bitcoin to address a national debt of $36 trillion. This positioning suggests Metaplanet's stock could potentially reclaim its all-time high, which was more than 20x its current value.
Strategic Moves
- Metaplanet is following the investment model of MicroStrategy Inc., which holds over 2% of total Bitcoin supply.
- Capital Group recently acquired about 5% of Metaplanet, enhancing its investment profile.
- With anticipated Bitcoin price increases, Metaplanet's value is expected to grow, attracting further corporate adoption of Bitcoin strategies.